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Boss left now report to the CEO but no promotion

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Boss left now report to the CEO but no promotion

by jaw5xs » Tue Jul 21, 2015 5:28 pm
I work as a financial analyst for a small commercial real estate company. In my time there as the sole analyst, I have done almost $200 million in transactions.

My boss left recently and I have been reporting to the CEO for a few months. During that time, I was able to successfully pitch a deal to an equity investor for a $40 million dollar property. The CEO wrote a glowing recommendation of my growth and this particular transaction but there haven't been any raises in the company and I haven't gotten a title change.

I am wondering how this will look. I am thinking about leaving to go to a large company with a better title for a year if need be but wondering if it will hinder me that I haven't gotten a promotion even though I have a recommendation from the head of the company stating that I stepped up dramatically.

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by Jim@StratusPrep » Wed Jul 22, 2015 5:20 am
I should not, titles are not everything - as long as you convey the responsibility change in your resume and personal statements, you should be just fine.
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by Michael@VeritasPrep » Sat Sep 12, 2015 2:43 pm
Not getting a promotion in this case matters way more to you than the admissions committee. Hard for schools to even notice if you got promoted or not. Getting that kind of recommendation is far more valuable than leaving for a new company. It sounds like they really value you there, maybe they will help out with the cost of a MBA.
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by Personal MBA Coach » Sun Sep 13, 2015 9:22 am
Going one step further, I have seen examples where candidates have titles that are inflated too much.

How long have you been at the company with the same title? If you are the only one in that role and you report to the CEO, just put that on your resume.

Good luck!
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by Kaneisha Grayson » Mon Sep 14, 2015 2:25 pm
Hey there jaw5xs,

I'm going to go against the crowd a bit and say that I do think it would be better if you had experienced a raise and/or title change and that the AdCom will notice. Admissions committees don't ask for your salary information for every single recent job for no reason. Among wanting to understand your career progression and how much compensation you're receiving in return for the results achieved, it helps them to understand the "scope" of work you're doing in a way.

That said, I don't think this is an application killer and I also don't think you should leave your company just because of this. Reporting to the CEO and serving as the sole analyst at your firm is a pretty big deal. It sounds like there is a lot of room for growth and trying out a lot of different things in your current small company as compared to a larger company where you might be closer to being a cog in the machine.

What I would recommend is that you visually split your work at the company on your resume into two different roles-even if you didn't receive an official promotion. It sounds like your job duties and reporting structure changed dramatically when your boss left, so you could use that event as the sort of BC/AD split of your resume (sorry for the random Biblical reference; I couldn't think of another one!) or you could visually split this employment experience in some other way. Basically, without lying, you are going to visually convey a promotion on your resume by splitting up your time there.

I hope that is helpful and best of luck in your process!

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by jaw5xs » Tue Sep 15, 2015 10:18 am
Thanks for the replies everyone. So to follow up on this. I have my recommendations from my current company, but I also have an offer from Deloitte to join their Real Estate Group. The position starts the first week of October and I am applying Round 2 (Jan 1).

I have been in my current job 2.5 years by the way.

I think the Deloitte opportunity could add another layer to my application and make me more employable post MBA, even if it would be for 10 months or so.

My question basically is, would it be bad to switch this late, if I can explain my reasoning for doing so?

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by Michael@VeritasPrep » Tue Sep 15, 2015 11:36 am
Are you married on the idea of going to school this year? It might look better to work for Deloitte for a year or two first. Would make your application much stronger. Plus, Deloitte might pay for your education.
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by jaw5xs » Tue Sep 15, 2015 11:46 am
My thought process was I have a great letter of recommendation from the small company. If I leave and that burns a bridge somehow, I don't want it to jeopardize my ability to get a recommendation letter in the future.
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by Michael@VeritasPrep » Tue Sep 15, 2015 12:44 pm
So instead you'll burn a bridge at Deloitte once you leave after 10 months? :)

Talk it over with your company leadership. Seems like you have good relationships there. In theory, they should understand your desire for new experiences and education and not hold it against you. If they did hold it against you...well, that's kind of a sign that you should probably leave isn't it?
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by Personal MBA Coach » Tue Sep 15, 2015 12:59 pm
Is the Deloitte job on the consulting side or the advisory side? What level are they bringing you in at? You could certainly still apply this year and make the move if you explain it well. The more natural move would be to wait another year but I've seen many folks do what you are doing and be successful.

It will be tougher to get Deloitte to pay for B school for you if you are not part of the entering analyst class. I'm very familiar with the firm and could talk about how all of that works if you would like.
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by jaw5xs » Tue Sep 15, 2015 1:03 pm
It is an associate position so it is still more entry level but I still think it would be a good experience.

I actually accepted this job in April and they wanted me to wait until October with the class of Associates they are bringing in so I could also talk to that as well.

The position is on the advisory side.
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by Personal MBA Coach » Tue Sep 15, 2015 1:07 pm
Can you apply round one? Late but still possible for some schools....
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by jaw5xs » Tue Sep 15, 2015 1:10 pm
Nah I can't. I'm taking the gmat again. I think I will probably switch to Deloitte and hope it doesn't hurt me too much.
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by Personal MBA Coach » Tue Sep 15, 2015 1:51 pm
If you tell the right story, its certainly possible. Reach out if you want to discuss in more detail.
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by jaw5xs » Wed Sep 16, 2015 2:58 pm
So I have an update here. I was able to get a title change today. The company has also started having me go to management meetings and things of that nature so I think this builds a better story for my app than going to Deloitte for less than a year but I am getting a lot of people telling me Deloitte is better.

Maybe I should take the promotion and still go to Deloitte? I'm very indecisive right now.
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